CEO Dev Ittycheria cited slower than expected cloud database consumption growth during the quarter, which led MongoDB to lower its fiscal 2025 guidance.
Slower than expected consumption growth in the April quarter pushed MongoDB executives to lower their fiscal 2025 forecast, which trailed expectations.stock sank as much as 25% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year.Sign up for NBC LA newsletters.
MongoDB's revenue grew 22% year over year in the fiscal first quarter, which ended on April 30, according to aConcerning guidance, the company called for adjusted fiscal second-quarter earnings of 46 cents to 49 cents per share, with $460.0 million to $464.0 million in revenue. Analysts surveyed by LSEG were looking for 58 cents in adjusted earnings per share and $470.4 million in revenue.
MongoDB trimmed its 2025 fiscal year forecast, which now stands at $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Three months ago, the forecast was adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts had predicted $2.50 in adjusted earnings per share on $1.93 billion in revenue.
Before the after-hours move, MongoDB shares were down 24% this year, trailing the S&P 500 index, which has gained about 10% in the same period.Crime and Courts
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